Imagine the following scenario: You’re a Buick salesman. An elderly woman comes into your showroom to inquire about a replacement for her Regal. You decide that she’s a great candidate for an Encore, and since you have some previous-year Encore stock you decide that she’s a great candidate for a 2015 Encore instead of the new model. There’s a $149/month lease deal available from GM Financial. What kind of deal do you make for this woman?
If your answer is, “I’d charge her over sticker for the vehicle, switch the lease company to make some back-end money, and add nearly a thousand dollars of profit in fees above that,” then you might just be the salesman that Buick GMC of Beachwood, OH needs.
You have worked hard to save the $20,000 you need to purchase the car of your dreams. You’re ready to step into the dealership, walk straight to the manager in the back, plunk down those greenbacks, and say, “I have cash! Give me your best price!”
This may have worked in the days before electronic banking and factory rebates, but paying cash today will likely cost you more.
In this year’s red hot new car market, the Honda Accord and CR-V have apparently captured the top spot in both new car and SUV retail sales through the first half of 2014, according to Polk registration data. But John Mendel, Honda’s head of sales, had some pointed words for the industry as a whole, and the state of the American auto market.
Haven’t you heard the exciting news? There’s a new Corvette out this year! Cadillac is building convertibles again! The VW Vanagon has a water-cooled engine! Oldsmobile is offering some kind of voice warning doohickey and the FIRENZA HAS NEW TRIM OPTIONS!1!!11! All with interest rates hovering just under 13%! It’s 1984, and I just can’t wait to check out the goods at the auto show.